Reading Room Document

The President's Authority to Redesignate a Member as Chairman of the Federal Home Loan Bank Board

This document discusses the President's authority to redesignate a member of the Federal Home Loan Bank Board. The Chairman of the Board tendered his resignation, which was accepted by the President, but the Chairman expressed willingness to continue serving. The conclusion reached is that the President was authorized to redesignate the member as Chairman because he was still a member of the Board at that time. The document presents questions about the President's power to remove members of the Board and whether the intent to remove the Chairman as a member would be consistent with the President's letter of acceptance.

June 14, 1979